Yahoo Finance Live's Jared Blikre discusses the stock market falling as investors await this week's Fed policy-setting meeting, the correlation between bitcoin and tech stocks, and how increasing tensions between Russia and Ukraine are affecting global stocks.
As of 11:05 a.m. ET, shares of the semiconductor giant are down 3.5% in response to a report from Bloomberg that Nvidia's $40 billion bid to buy Britain's Arm Holdings may be well and truly dead. As Bloomberg reports this morning, Nvidia "is quietly preparing to abandon its purchase of Arm Ltd. from" SoftBank Group (OTC: SFTB.Y). Nvidia has made "little to no progress" convincing regulators such as the U.S. Federal Trade Commission and the U.K.'s Competition and Markets Authority to approve the deal, reports Bloomberg.
(Bloomberg) -- Nvidia Corp. is quietly preparing to abandon its purchase of Arm Ltd. from SoftBank Group Corp. after making little to no progress in winning approval for the $40 billion chip deal, according to people familiar with the matter. Most Read from BloombergStocks Storm Back From 4% Rout to Close Higher: Markets WrapStocks Slide as Fed, Russia Keep Traders on Edge: Markets WrapNvidia Quietly Prepares to Abandon $40 Billion Arm BidThis Red-Hot Housing Market Is Betting Interest Rates Wil